Endogeneous Risk in Monopolistic Competition

We consider a model of financial intermediation with a monopolistic competition market structure. A non-monotonic relationship between the risk measured as a probability of default and the degree of competition is established.

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Year of publication:	2012-10-24
Authors:	Damjanovic, Vladislav
Institutions:	Centre for Dynamic Macroeconomic Analysis, University of St. Andrews
Subject:	Competition and Risk \| Risk in DSGE models \| Bank competition \| Bank failure \| Default correlation \| Risk-shifting effect \| Margin effect

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Extent:	application/pdf
Series:	CDMA Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	Number 201210
Classification:	G21 - Banks; Other Depository Institutions; Mortgages ; G24 - Investment Banking; Venture Capital; Brokerage ; D43 - Oligopoly and Other Forms of Market Imperfection ; E13 - Neoclassical ; E43 - Determination of Interest Rates; Term Structure Interest Rates
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010676186